New CEO At GT Solar (SOLR)

03 November of 2009 by

GT Solar reports record revenue of 541 million and gross profit of 214 7 million for fiscal 2009 295x220 New CEO At GT Solar (SOLR) GT Solar(NSDQ: SOLR), which makes equipment for producing silicon and ingots,has hired Tom Gutierrez as its new CEO, the company said Monday.

Gutierrez replaced Tom Zarrella, who had been the CEO since 2007. The new CEO took office last week.

Gutierrez was CEO at Xerium Technologies from 2001 to 2008; Xerium makes synthetic textiles. Previously, Gutierrezwas CEO of Invensys Power Systems, which makes energy storage products.Gutierrez is on the boards of Verso Paper and Comverge.

The Merrimack, N.H.-based company, whichalso sells equipment for making solar cells and panels, also releasedpreliminary financial results for its second fiscal quarter endingSept. 26 this year.

GT Solar said it expects the second-quarterrevenue to be around $100 million to $105 million. Net income wouldfall between $9 million and $10 million, or 6 to 7 cents per share.

For the full 2010 fiscal year, the companyexpects to generate $450 million to $550 million in revenue, and 45 to60 cents per share.

GT Solar plans to release the full second-quarter results next week

The company’s shares were down 3 percent to reach $5.09 per share in recent trading.

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